India
Reddy says RBI caught unawares on inflation
The Reserve Bank of India governor YV Reddy admitted that the July inflation rate, which touched a three-year high of 7.51% in end-July, was higher than what the monetary policy in May '04 had visualised.
RBI's Reddy on India and the global economy
In a speech on 'India and the global economy' given on 17 June, YV Reddy of the Reserve Bank of India said the presence of foreign banks in India has benefited the financial system by enhancing competition, resulting in higher efficiency. There has also…
India introduces mobile ATM
The State Bank of India on Saturday 11 July rolled out its first mobile ATM to improve accessibility to customers in remote areas and tourist locations in the country.
Leeladhar, Gopinath tipped as RBI dep governors
Union Bank of India chairman V Leeladhar and Reserve Bank of India (RBI) executive director Shyamala Gopinath are set to take charge as future deputy governors of the RBI, The Economic Times reported this week.
RBI's Mohan says rates unlikely to change
the RBI's deputy governor, Rakesh Mohan, said on Thursday 8 July that he saw no change in the country's official interest rate policy following the new government's federal budget, presented earlier in the day.
Reddy on financial stability: Indian experience
In a speech on 'Financial stability: Indian experience' given on 27 June, Dr YV Reddy of the Reserve Bank of India said in the context of ongoing reforms in the financial sector in India, the regulatory regime has also undergone certain fundamental…
RBI's Reddy on capital account liberalisation
In the speech 'Remarks on capital account liberalisation and capital controls' given at the Central Bank Governors Symposium convened by the Bank of England on 25 June Dr YV Reddy of the Reserve Bank of India said caution is needed in moving forward with…
RBI's Udeshi on the role of central bankers
In a speech on the 'Role of Central Bankers in Emerging Economy like India' given on 19 March, Kishori Udeshi of the RBI said the life of a central banker is one of anonymity, staid and boring. It is only in moments when the going is tough that central…
Former RBI governor to lead India
Manmohan Singh, a former governor of the Reserve Bank of India, is set to become India's next prime minister after Sonia Gandhi's decision to turn down the job. Mr Singh was in charge of the RBI from September 82 to January 85.
RBI starts live operation of RTGS system
After a two-month trial, the Reserve Bank of India on Friday 26 March began live operations of the Real Time Gross Settlement (RTGS) system but only inter-bank transactions are being put through.
RBI dep governor: forex reserves 'not in plenty'
India's foreign exchange reserves, at over $109 billion, are not in plenty, the RBI Deputy Governor, Ms K J Udeshi, said on Friday 19 March.
RBI staff 'are grossly underpaid'
The Reserve Bank of India's Officers Association (RBIOA) has demanded that pay be linked to other central banks, saying a tiger must be compared with a tiger.
India's RTGS launch likely by end of March
The Reserve Bank of India has now proposed "hopefully" to launch its Real Time Gross Settlement System before the end of March.
RBI staff strike over strike ban
Around a million workers of state-run Indian banks including the Reserve Bank of India went on strike Tuesday 24 February to protest against a Supreme Court decision prohibiting government employees from going on strikes.
RBI's Reddy sees better than expected growth
Reserve Bank of India Governor YV Reddy said on Thursday 12 February that he expects Asia's third-largest economy to grow strongly this year and next.
RBI governor to lead market surveillance panel
The Reserve Bank of India has formed a high power committee headed by the governor for integrated market surveillance and alert systems. The committee is to strengthen market supervision and monitoring.
IMF's Krueger says more flexible rupee desirable
Anne Krueger said on Wednesday 21 January that the Indian rupee must be allowed more flexibility and the Reserve Bank of India should intervene less in the currency market.
RBI faces tough issues to resolve the 'trilemma'
This article looks at a school of thought which believes that the Reserve Bank of India has failed to find out an inflexion point for short-term rates. The result, it says, is an unabated inflow of capital and excess of rupee-liquidity in the inter-bank…
RBI's Reddy to discuss growth and inflation
Governor Y.V.Reddy of the Reserve Bank of India said on Tuesday he will present his reassessment of the Indian economy at a trade body's annual meeting on Wednesday.
Reddy on financial sector globalisation in India
Dr Y.V.Reddy, governor of the Reserve bank of India, talks about financial sector globalisation at the Twenty-Fifth Bank Economists' Conference held in Mumbai.
India's foreign exchange reserves top $100 bn
India's foreign exchange reserves broke through the $100 billion mark for the first time, on the back of investment and trade flows and the dollar's weakness against other currencies.
3,491 opt for early retirement at RBI
The Reserve Bank of India's early retirement scheme, which was introduced recently, has attracted 3,491 applications, according to a Rediff report. The scheme closes at the end of December with official sources saying the "RBI introduced the early…
RBI to set up new payment board
The Reserve Bank of India is to set up a board for payment and settlement systems to provide efficient governance and best practices in risk management, reports the Business Standard. This would ensure that all payments and settlements in the country are…
RBI groups call for amendment to RBI Act
The Reserve Bank of India's working group have suggested amendments to the RBI Act (1934), according to The Financial Express. The group suggested flotation of interest-bearing deposits as an option, whereby the central bank pays interest on deposits…